Wednesday, 11 May 2011

Paying The Price II

"Monetarism can be harsh, but it keeps down inflation." Yer what?

Can you think of anything significant that has happened since 2009? A change of Chancellor, perhaps?
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1 comment:

  1. Lord Keynes14 May 2011 at 17:59

    And the monetarist attempt to control inflation by targetting the money supply in the early 1980s in the US (1979-1982) was a total disaster.

    Monetarist macrotheory is fundamentally flawed, as our broad money stock is endogenous, and the sources of inflation are far more complicated than the simplistic equation MV = PT.

    http://socialdemocracy21stcentury.blogspot.com/2010/07/quantity-theory-of-money-critique.html

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